HCI Group Q3 net income $15.7M ($1.34 EPS) vs $51.5M loss a year ago; gross loss ratio improves to 32%

HCI Group, Inc.

2023-Q3 EPS reported $4.16 revenue$388,000,000

Pre-tax income of $20.1M vs pre-tax loss in Q3 2022; adjusted diluted EPS of $1.41 vs loss of $5.62.
Gross premiums earned rose 3.6% to $188.3M; net investment income (ex-real estate) nearly doubled to $9.4M.
Loss and loss adjustment expenses fell to $66.7M from $139.8M, helped by lower claims frequency and litigation.
Management cites Florida insurance reforms for improved loss trends; plans to expand by assuming policies from Citizens.
Year-to-date net income $48.3M ($4.16 diluted EPS) vs loss of $57.3M in 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HCI Group, Inc. reported the third quarter of 2023 results: revenue $188.3 million, net income $15.7 million, EPS $1.34 diluted earnings per share.

Period: the third quarter of 2023
Revenue: $188.3 million
Net income: $15.7 million
EPS: $1.34 diluted earnings per share
Result: reported results

Exact text from the filing

businesses, which includes the assumption of policies from Citizens.” Third Quarter 2023 Commentary Consolidated gross premiums earned in the third quarter increased to $188.3 million from $181.7 million in the third quarter of 2022. The increase was primarily due to higher average premiums per policy offset in part by attrition in the number of policies in

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HCI Group, Inc. reported the nine months ended September 30, 2023 results: revenue $550.3 million, net income $48.3 million, EPS $4.16 diluted earnings per share.

Period: the nine months ended September 30, 2023
Revenue: $550.3 million
Net income: $48.3 million
EPS: $4.16 diluted earnings per share
Result: reported results

Exact text from the filing

non-GAAP financial measure and reconciliations to the applicable GAAP numbers accompany this press release. Consolidated gross premiums earned for the nine months of 2023 of $550.3 million increased from $541.8 million in the first nine months of 2022.The increase was primarily due to higher average premium per policy offset in part by attrition in the number of

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HCI Group, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-060319

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